Birchbox, Gwynnie Bee CEOs back peach CEO, Janet Kraus
On a Project Runway: Fashion Startup episode that aired on LifetimeTV, November 17th, Co-Founder & CEO of beauty retailer Birchbox, Katia Beauchamp, and tech marketplace rock star and Founder & CEO of plus-size clothing rental startup Gwynnie Bee, Christine Hunsicker, backed CEO and Co-Founder of Discover peach, Janet Kraus, with a combined total of $300’000 in exchange for 2% (1% each) of the company, valuing the new lingerie direct sales startup at 15 million dollars.
You can watch the full episode (with Janet) below.
I’ve been learning more and more about peach Co-Founder and CEO, Janet Kraus for about a year now. I was not surprised when she walked in front of the Project Runway: Fashion Startup investors with confidence and charm. That’s not only due to all the teasers I shared on my Facebook page, either. 😉
No, Janet taught entrepreneurship at Harvard Business School, and has owned and sold two businesses before peach. I learned this about a year ago when I was thinking about joining Janet’s mission to transform the lingerie industry into a force for good. A movement that didn’t make it to your TV screens Thursday night, but you can learn about it on this site, or just by talking to me.
Nor did it surprise me when she stated her projected loss for this year (4 million). However, that is partly due to an interview with Janet on Judy Goss‘s What Women Want LA Talk Radio. During that interview, Janet talks about businesses having to go through multiple years of work before they’re successful. She emphasizes that there is a ton of hard work before the ‘pretty’ success story that everyone sees once a business ‘makes it’. She gives an example of a major startup company that we hear about almost every day that lost a billion dollars in just the first two quarters of 2016. There was no shocking music/sounds that played after she said that on the radio interview. If you think about it, even the IRS gives you a tax break the first few years of your new business. We know this.
Project Runway: Fashion Startup
I’d like to touch on a few things that happened or that were mentioned on the show:
- Will women let me, as a stylist, into their home?
Well, I usually do what’s called a “Virtual Fitting“, although we can meet in person, too. How do virtual fittings work? You and I meet on Zoom, Skype or even on Facetime over the phone. There, I will walk you through each of the 10 points of our patented measurement process. I take down these measurements and plug them into the peach algorithm. I’ll reach out beforehand in an email so we can schedule a time that’s convenient for you to meet up online, and also give you some tips on how to prepare. The virtual fitting takes about 20 minutes. Like Janet said, you’re never naked, and you even wear a tank top, or other close-fitting top for the best fit possible! If you are local to me, we can meet up, but like Janet said, it’s only a measuring process.
- You couldn’t believe it when the Katia & Rebecca said they don’t own a $75 bra like we all do. Lol!
Katia & Rebecca are small-framed women – that’s probably why they don’t own $75 bras. If you have large breasts, you know bras go for that price (and more), for lesser quality, AND only in white! If you have very large breast, then you knew that immediately! peach offers sizes that are typically harder to find, and in more colors! The more we grow, the more our selections will grow. It was very exciting for me, as a stylist, to see the new lingerie that will be coming out soon – appear on the show! In case you’re wondering, Katia loves our line of everywear. 😉
Yes, peach is a $15 million company
Are you asking yourself, “What does this investment mean“? I did, too. Then I thought back to when I created my profile on Angel’s List, and found peach there on that website. I didn’t know if it would even be allowed (since I’m a stylist), but I daydreamed about investing in peach myself as an angel investor. I thought since it was a brand new company – surely I’d be able to make a minimal investment – and I knew it would pay off big! CEOs Katia Beauchamp and Christine Hunsicker have now both invested $150’000 each, for 1% of peach each.. So if I wanted to own just 1% of the company, that’s what I’d have to invest, as well. Had I gone with my investment back in June when I created my profile on Angel’s List, my share would be worth $150’000 now, which is exactly what Janet jokes about to Katia when Katia wonders aloud about what Janet’s advice would be to her had she brought this project to Janet back at Harvard when Janet was a professor there – “It’s lower than it will be next time“. 🙂
There’s the stylist’s opportunity for me! It’s fantastic, and still allows me the opportunity to work with Janet. It also allows me to work with women everyday, helping them through this movement that I mentioned earlier. A movement to revolutionize the lingerie industry! I also mention it as “Our story is bigger than bras” on another page of this website. As a stylist, I get the chance to help women feel better about themselves. 80% of women are walking around in a bra that doesn’t fit for a reason – a real reason. It’s because they don’t like the bra-shopping experience. I change that entire experience! I bring it to your home, when it’s convenient for you, and without any humongous posters of women who appear to be in need of some private time. Lol! That place always gave me the creeps when I went to the mall. It still does. I always just ordered my bras through eBay so they wouldn’t get my money “directly” at least (silly, I know), but I had no idea how bad the quality was until I discovered peach! Not only was the quality bad, but the way my breasts looked through my clothes has improved, as well. This transformation happens for other women, too.
Like Christine says at the end, “I love making women feel good“. I love making women feel and look good, too. I love working with Janet, this opportunity, and I love the way I look and feel. peach has truly made me feel better about the way I look. It’s a win-win. It doesn’t appear that you can lose with peach. Invest some of your time into checking out more about peach, and how we can make you feel and look better.
I think that much like Birchbox CEO, Katia Beauchamp, and Gwynnie Bee CEO, Christine Hunsicker, have invested in peach and back my fearless leader, CEO Janet Kraus, if you got to know us, you would, too…
Contact me to book your fitting, or to learn more.